CNN plans to lay off more employees and launch a separate streaming service, according to a memo from CEO Mark Thompson obtained by The Hollywood Reporter. Approximately 200 employees will be cut, affecting 6% of CNN’s current workforce.
Thompson said the changes were made in response to “profound and irreversible changes in the way audiences in America and around the world consume news.” The launch of a new streaming service after the disastrous failure of Stanley Tucci’s former streaming home, CNN+, is apparently tied to the same idea.
According to Mr. Thompson,
Today, we’re excited to announce that we plan to develop new ways for our digital subscribers, both domestically and internationally, to be able to stream our newscasts on any device of their choice. It’s early days, but we’re already seeing great demand, not just in the U.S. but around the world.
Some of CNN’s programming is already available on parent company Warner Bros. Discovery’s streaming service, Max, but the new service will likely benefit subscribers who pay directly to CNN. The company launched subscriptions to CNN.com in October 2024 for $3.99 per month or $29.99 per year.
The new streaming service will no doubt struggle, considering CNN+ is reportedly able to attract less than 10,000 users per day.
